Moderna Surpasses Q3 Estimates with $1.86B Revenue, $1.8B COVID Vaccine Sales, and $0.03 EPS

Nov 7, 2024, 11:57 AM

Moderna Inc. (MRNA) reported its third-quarter 2024 financial results, announcing revenue of $1.86 billion, exceeding the estimated $1.25 billion. The company's COVID-19 vaccine revenue was $1.8 billion, surpassing the estimated $1.2 billion, including $1.8 billion in Spikevax sales. Moderna achieved a net income of $13 million, compared to a net loss of $3.6 billion in the same period last year, resulting in earnings per share (EPS) of $0.03, outperforming the expected loss per share of $1.90. The company reported RSV vaccine revenue of $10 million. Moderna reiterated its 2024 expected product sales of $3.0 to $3.5 billion and year-to-date product sales of $2.2 billion. Cash and cash equivalents were reported at $9.2 billion.